The commencement of the new year has resulted in a minor setback for the Toronto stock market, with the technology and financial sectors detrimentally impacting the overall performance on the inaugural day of trading.
As of midday on Tuesday, the S&P/TSX Composite Index experienced a 0.3% decline to 20,886.20, and the S&P/TSX 60 also registered a 0.3% decrease, settling at 1,261.04. Nevertheless, the downturn was somewhat mitigated by advancements in energy and utilities stocks.
Leading banks also observed a decrease, with the National Bank of Canada witnessing a 0.5% decline and the Bank of Montreal falling by 0.4%.
Within the technology sector, Shopify suffered a 4.2% loss, while Celestica and Evertz Technologies both endured declines of 2.3% and 2.2% respectively.
Investors acknowledged the latest manufacturing data, specifically the S&P Global Manufacturing Purchasing Managers’ Index, which disclosed a reduction to 45.4 in December. This denotes the eighth consecutive month where the index has fallen below the 50 threshold that delineates expansion from contraction.
Furthermore, noteworthy movements within the market encompassed Seabridge Gold shares, which experienced a 0.8% decline to C$15.93 following the company’s announcement regarding new appointments to its leadership team. Additionally, Great-West Lifeco encountered a 0.5% dip to C$43.65 subsequent to the completion of the sale of Putnam Investments to Franklin Templeton, an asset manager.
For additional information, kindly contact Robb M. Stewart at [email protected].
+ There are no comments
Add yours